Hindenburg Says Adani’s Nationalist Rebuttal Ignores Allegations
- US short seller says response ‘obfuscated by nationalism’
- Adani sought to calm investors with 413-page statement
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Hindenburg Research said an extensive rebuttal from Gautam Adani’s eponymous conglomerate against the US short seller’s claims of widespread corporate malfeasance ignored all its key allegations and was “obfuscated by nationalism.”
The detailed statement issued by the Adani Group late on Sunday failed to specifically answer 62 of Hindenburg’s 88 questions, the short seller said early Monday in India, and conflated the company’s “meteoric rise” and the wealth of Asia’s richest man “with the success of India itself.”